If you are currently working with a San Diego short sale specialist, you probably already know what a hardship is in regards to a short sale. You more than likely have a hardship of your own if you are considering short selling your home. If you are new to the short sale process, however, and have been looking around trying to figure some things out, you may be wondering what the word hardship even means.

In the real estate world a hardship is basically something that has caused you to become unable to pay your mortgage. If you are having trouble paying your mortgage and are unsure if the reasons behind it are a true hardship or not, it’s always best to contact a short sale specialist and discuss your situation with them.

There are many types of hardships out there and some are more common than others. Because of the poor economy and the recession that we’ve experienced in the past few years, the most common hardship currently is job loss. Many homeowners are distressed because they have recently experienced a significant decrease in their income due to becoming unemployed. Other common hardships include medical issues, divorce, death within the family, job relocation or job transfer, or having to take a decrease in pay.

There are many other types of hardships that aren’t as common, so if you are falling behind on your mortgage payments, feel that becoming deficient is imminent, or if you are unsure if your lender will approve your short sale because of your hardship, get in touch with one of the many short sale specialists in the San Diego area today. A short sale specialist will be able to help you determine if your hardship is legitimate and if the chances of the bank approving your short sale are good.